9 expenses you can cut in 2023 to save money
Published in
3 min readJan 2, 2023
Are you tired of living paycheck by paycheck and barely scraping by? Well, I’ve got some good news for you! There are plenty of easy and painless ways to cut expenses and save money in 2023. Here are just a few to get you started:
- Ditch the cable: Do you really need 500 channels that you never watch? Consider cutting the cord and going with a streaming service instead. Bonus: you’ll save money and get to binge-watch all your favorite shows guilt-free.
- Bye bye, bottled waters: Instead of buying single use bottled water, invest in a reusable water bottle and refill it as needed. Not only will you save money, but you’ll also be helping the environment!
- Make your own coffee: Instead of buying a £5 latte every day, consider brewing your own coffee at home. It may take a little extra time in the morning, but it’ll save you a ton of money in the long run! Read how my old uni friend Matt saved £300+/month by cutting on UberEats and Startbucks).
- Ditch the fancy restaurants and cook at home: By cooking at home, you will you save money, but you’ll also get to show off your culinary skills. Just don’t burn down the kitchen!
- Leave the car and take the bus instead: Not only will you save money on gas, car maintenance and insurance, but you’ll also get to have genuine interactions with your neighbours and catch up on your reading. Bonus: you’ll be doing your part for the environment!
- Use a budgeting app: There are quite a few budgeting software available that can help you track your spending and see where you can cut back.
I personally found that categorising my expenses and assigning an importance score to each expense has helped me identify the expenses I can cut to save money. A version of the tool I use can be found on Etsy. - Make some extra cash on the side: Whether it’s dog walking, tutoring, or selling crafts on Etsy, there are plenty of ways to bring in a little extra dough. And who knows, you might even discover a new passion!
- Use a cashback app to earn rewards: Why not get paid for something you’re already doing? Simply link your card to a cashback app and watch the rewards roll in.
- Choose your spending medium, cash or card ?: While using cash can help keep your spendings in check and avoid racking up credit card debts, it can also make you feel like you’re are «not loosing money», as it already has come out of your bank account. When paying by card, you might feel detached to the act of spending, however, if set up your bank account app to send a notification after each purchase with the total amount you cumulatively spent during the day, it might make you think twice before buying that third latte during your shopping session.
So, there you have it, 9 easy and painless ways to cut expenses and save money in 2023. Try incorporating one or two of these ideas into your budget and see how much you can save. Happy saving!
Read more stories like this by subscribing to The WikiMonday Bulletin.
